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Amvescap Is Planning to Buy
Whitehall Asset Management

NEW YORK -- Asset-management company Amvescap PLC plans to acquire Whitehall Asset Management, a small New York money manager focusing on wealthy clients, officials from the companies said.

The decision comes days after the British firm, whose U.S. holdings include fund groups AIM Management and Invesco Funds, announced plans to reduce its overall staff by about 500 people, or 6%, in the coming year.